Universal Ins Hldgs Inc Stock Price, News & Analysis

Universal Insurance Holdings, Inc. (NYSE: UVE) will report its Q2 2022 results on July 27, 2022, after market close. A conference call to discuss these results is scheduled for July 28, 2022, at 10:00 a.m. ET. Interested parties can listen to the call via an online webcast or register for a dial-in option. Universal specializes in property and casualty insurance, focusing primarily on personal residential homeowners products, and operates across 19 states, mainly in Florida.

Universal Insurance Holdings, Inc. (NYSE: UVE) announced the completion of its 2022-2023 reinsurance programs for its subsidiaries, UPCIC and APPCIC, effective June 1, 2022. The company secured more catastrophe capacity than ever before amid a challenging market. The total cost of reinsurance is projected at $696 million, reflecting 37.6% of estimated direct premiums, slightly higher than last year. Policies-in-force in Florida declined by 7%, while premiums increased by 11%. The company also arranged multi-year catastrophe capacity of $383 million.

Universal Insurance Holdings (NYSE: UVE) reported its Q1 2022 results, with diluted GAAP EPS at $0.56 and non-GAAP adjusted EPS at $0.64. The company achieved a 16.9% annualized ROE and direct premiums written rose to $396.5 million, up 8.5% year-over-year. Despite these increases, net income decreased by 33.6% to $17.5 million due to a higher combined ratio of 97.9%. The firm repurchased 320,528 shares totaling $3.9 million and returned $8.9 million to shareholders, including a quarterly dividend of $0.16 per share. The company maintains its 2022 guidance for EPS between $1.80 - $2.20.

Universal Insurance Holdings, Inc. (NYSE: UVE) has declared a quarterly cash dividend of 16 cents per share, payable on May 20, 2022, to shareholders on record as of May 13, 2022. This decision reflects the company's ongoing commitment to returning value to shareholders. Universal specializes in property and casualty insurance, primarily focusing on the residential homeowners market in Florida and across 19 states in the U.S.

Universal Insurance Holdings, Inc. (NYSE: UVE) will release its first quarter 2022 financial results after NYSE trading on April 28, 2022. A conference call is scheduled for April 29, 2022, at 10:00 a.m. ET, to discuss these results. Investors can dial in at (855) 752-6647 for U.S. participants and (503) 343-6667 internationally, using participant code 9789558. The call will also be available via a live webcast on the company's investor website and will be replayable until May 14, 2022.

Universal Insurance Holdings (NYSE: UVE) has appointed Arash Soleimani as Chief Strategy Officer and promoted Rob Luther to Chief Investment Officer, along with Gary Ropiecki as Principal Accounting Officer. Soleimani will lead strategy and investor relations, while Luther will manage the $1B+ investment portfolio. Ropiecki will oversee enterprise-wide accounting functions. CEO Steve Donaghy emphasized the importance of these appointments for the company's strategic objectives and long-term success.

Universal Insurance Holdings (NYSE: UVE) reported a significant increase in direct premiums for 4Q21, up 11.5%, and FY21, up 14.4%, primarily due to rate increases. However, 4Q21 GAAP diluted EPS was $(1.54), reflecting inflationary pressures. The company achieved approximately $1.7 billion in premiums in force and a return on average equity of 4.6%. Clovered.com, a subsidiary, surpassed $40 million in placed premiums in 2021. The company has initiated guidance for FY22 with projected EPS between $1.80 and $2.20.

Universal Insurance Holdings (UVE) will release its fourth-quarter results on February 24, 2022, after NYSE trading ends. A conference call will follow on February 25, 2022, at 9:00 a.m. ET, to discuss financial results. Investors can dial in or listen via a webcast at UniversalInsuranceHoldings.com. A replay will be available until March 12, 2022. UVE primarily offers property and casualty insurance services across 19 states, focusing on personal residential homeowners' lines.

Universal Insurance Holdings (NYSE: UVE) has declared a quarterly cash dividend of 16 cents per share, payable on March 17, 2022, to shareholders of record by March 10, 2022. The company faced inflationary pressures, leading to a conservative reserve strategy that included an estimated $30.7 million strengthening of reserves for the 2021 accident year. Overall, the fourth quarter is expected to impact net income by approximately $80.1 million after-tax, impacting the full-year combined ratio significantly.